Friendly Federal Credit Union Mortgage Rates, Fees & Info

Aliquippa, PA

LEI: 5493002HFXKKQDK8PH83

Tax ID: 25-1037987

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Friendly Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Friendly Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

    Friendly Federal Credit Union has an above average approval rate when compared to the average across all lenders. They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    48

    Origination Dollar Volume (All Markets)

    $3,350,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PITTSBURGH, PA (FHA|USDA|VA) 48 $3,350,000 $69,792 $0 3.93%
    Friendly Federal Credit Union's top markets include and Pittsburgh among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $3,350,000 $69,792 $0 3.93%

    For 2019, Friendly Federal Credit Union's most frequently originated type of loan was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 21 $675,000 $32,143 $0 3.88%
    Other 17 $1,265,000 $74,412 $0 3.97%
    Home Purchase 6 $1,100,000 $183,333 $0 3.70%
    Refi 4 $310,000 $77,500 $0 4.38%

    For 2019, Friendly Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Other, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 15 $365,000 $24,333 $0 3.00%
    20 Year 12 $1,480,000 $123,333 $0 4.75%
    10 Year 8 $290,000 $36,250 $0 4.00%
    15 Year 8 $510,000 $63,750 $0 4.50%
    30 Year 4 $680,000 $170,000 $0 3.81%
    Other 1 $25,000 $25,000 $0 3.50%

    For 2019, Friendly Federal Credit Union's most frequently cited loan duration was 5 Year, with 15 originations. The 2nd most popular length was 20 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $1,570,000 $87,222
    2.5-3% 15 $365,000 $24,333
    3-4% 15 $1,415,000 $94,333

    During 2019, Friendly Federal Credit Union's average interest rate for loans was 3.81%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,205,000 $34,429 $0 3.75%
    $100k-200k 8 $970,000 $121,250 $0 4.56%
    $200k-400k 5 $1,175,000 $235,000 $0 4.22%

    2019 saw Friendly Federal Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $1,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $1,100,000 $61,111 $0 3.87%
    $50k or less 13 $485,000 $37,308 $0 4.08%
    $100k-150k 7 $525,000 $75,000 $0 3.80%
    $75k-100k 5 $545,000 $109,000 $0 4.30%
    $150k-250k 3 $435,000 $145,000 $0 3.33%
    $250k+ 2 $260,000 $130,000 $0 4.00%

    Friendly Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $50k or less, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $1,360,000 $85,000 $0 3.83%
    20-30% 12 $520,000 $43,333 $0 4.00%
    30-36% 9 $915,000 $101,667 $0 3.89%
    36% 2 $40,000 $20,000 $0 3.75%
    42% 2 $70,000 $35,000 $0 3.00%
    46% 1 $115,000 $115,000 $0 5.00%
    49% 1 $5,000 $5,000 $0 3.00%
    50-60% 1 $5,000 $5,000 $0 5.00%
    38% 1 $95,000 $95,000 $0 4.00%
    43% 1 $105,000 $105,000 $0 4.50%
    44% 1 $105,000 $105,000 $0 5.00%
    45% 1 $15,000 $15,000 $0 4.50%

    Friendly Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 45 $3,165,000 $70,333 $0 3.89%
    Black 3 $185,000 $61,667 $0 4.50%

    Approval Rates

    Total approvals of all applications
    92.31%

    Friendly Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 48 $3,350,000 $69,792

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 48 $3,350,000 $69,792

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $625,000 $56,818 $0 3.77%
    40-60% 4 $330,000 $82,500 $0 4.25%
    60-80% 12 $1,710,000 $142,500 $0 4.27%
    80-100% 3 $325,000 $108,333 $0 4.83%
    Under 20% 18 $360,000 $20,000 $0 3.58%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 28.6%
    Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 4 19.0%
    Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 1 4.8%
    Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 4 19.0%
    Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 14.3%
    Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 9.5%
    Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.8%